For option 2 I could place all three M3's at the same height which would place the tweeter at roughly 20" of the ground. I could also mount the L/R higher as well. I've read a lot on using the same three speakers for your fronts if possible and the consensus seem be to go that route if you setup permits it. What do you think of that setup?

Option 1 would be more traditional with the M22's a little higher up to the left and right of the screen.

For the surrounds I've read good things about both the QS4's and 8's. I just not sure if I need to go to the 8's or not.

If you have another setup recommendation please do tell. Thanks in advance for any advice.

Welcome. I'd suggest three M22s across the front. There's room for the M22 center beneath the screen and the tweeter would be at about the same 20" height as the tweeter(s)on the M3 or VP150. The L/R M22s would be mounted at typical height about 18" up.